Ore sorting, improved metallurgical processing and cost reductions options are on track to deliver a significant upgrade to the Definitive Feasibility Study (DFS) for Thor Mining PLC’s (“Thor”) (AIM, ASX:THR) Molyhil tungsten project in Australia’s Northern Territory.
The new work shows cost reductions to date of approximately A$12 a tonne, a 13% easing from the A$90/tonne in the 2012 DFS.
The 2012 Molyhil DFS highlighted that a 7% improvement in revenue factors (or the equivalent) was required to increase the Molyhil ore reserve by 50%, and extend the life of the proposed operation from 4 years to 6 years. Subsequently, the Thor team has sought to deliver that 7% improvement as a minimum enhancement to the DFS.
Now, recent work by Thor on processing improvements and cost factors has demonstrated the potential to at least achieve this objective.
For further information please download PDF attached:
